GBP/JPY may rise 94 - 141 pips

Our pivot point is at 200.27.

Our preference

As long as 200.27 is support look for 202.31.

Alternative scenario

Below 200.27, expect 199.49 and 199.03.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (200.92) but above its 50 period moving average (200.71).

Supports and resistances

203.23 **

202.77 *

202.31 **

201.84

200.90 last

200.57

200.27 **

199.49 *

199.03 **

Number of asterisks represents the strength of support and resistance levels.